A revenue center is any outlet that generates revenue. Revenue centers are defined by periods that are associated with KBIs. Most properties create revenue centers to define the outlets that generate revenue or volume. Typical revenue centers are restaurants, gift shops, lounges, etc. Revenue centers let you gather information about a specific outlet for the purpose of generating a forecast. When you create a revenue center, you can specify:
- The days it is open for business.
- The time of day it is open for business. For food outlets, you can specify the time period for each meal period.
- Its periods and their associated KBIs.
- The capacity, retention, and utilization for each one of its periods.
Based upon the actual data (historical events) and forecast data (future events) you gather and enter, the system can generate forecasts for every revenue center, by hours of operation and by period. For example, LMS can forecast restaurant covers for a given day by analyzing what happened on that day last week, last month or last year (actual data). As a general rule, the more data you make available the more accurate LMS will be.
When configuring revenue centers you perform the following tasks:
- Create new revenue centers.
- Create and specify periods within revenue centers.
- Create KBIs for each period within a revenue center.
- Edit existing periods and associated KBIs.
Revenue Centers screen – field descriptions
The table below provides descriptions for the Revenue Centers screen when both a revenue center and a revenue center period are selected. Most of these fields are READ-ONLY. To edit the fields, see Editing a revenue center period.
| Field | Description | Notes |
| Revenue Centers pane | ||
| Revenue Centers list | List of all configured revenue centers. When you click a revenue center, the panes to the right update to display information for the selected revenue center. | |
Add icon | Add a new revenue center. | |
Delete icon | Delete a revenue center | |
| Revenue Center Periods pane | ||
Revenue Center Periods list | List of revenue center periods associated with the revenue center. When you click a revenue center period, the panes to the right update to display information for the selected revenue center period. | |
Add icon | Add a new revenue center period. | After clicking the Save icon, RMS automatically creates a KBI. |
Delete icon | Delete a revenue center period. | |
| KBI pane | ||
| Name | KBI associated with the period. Double-click the field to open the Edit KBI dialog box so that you can edit the KBI details. | |
| Code | Code for the KBI. Double-click the field to open the Edit KBI dialog box so that you can edit the KBI details. | Format is # followed by four numerals. |
| Details pane | ||
Name | Name of the period. | READ-ONLY. |
Units | Defines the unit of measurement. The standard unit of measurement for most revenue centers is covers; however, many lounges and gift shops are measured by dollars. The items available in the Units drop-down list are the ones you specified (or will specify) when configuring Units. | READ-ONLY. |
| KBI | KBI associated with the period name. | READ-ONLY. |
| Edit | Opens the Edit Revenue Center Period dialog box. Use this dialog box to change the units associated with the revenue center period. | |
| Standard Set | Select the standard set from the drop-down list associated with revenue center period | |
Calendar Plan | Whether the revenue center period is open or closed on a seasonal basis. | READ-ONLY. |
Capture Ratio KBI | The KBI that is used as the denominator in the calculation of a capture ratio. A capture ratio is a common forecasting-related metric that is used to evaluate the percentage of potential business that a Revenue Center is generating. | READ-ONLY. |
| Same value for all days | Selected – Indicates that all days are configured with the same values. If the check box is selected, the values table displays only one row. Cleared – Each day must be configured separately. If the check box is cleared, the values table displays a row for each day of the week. | READ-ONLY. |
| Values table | ||
Start Time | Start time for every day of the week the revenue center is open, or for every day the service, defined by the period you are creating, is offered. | READ-ONLY. |
End Time | End time for every day a start time was entered. | READ-ONLY. |
Capacity | Total capacity (typical seating) of the revenue center. RMS uses the number in the Capacity field to develop labor requirements and to determine when guest demand exceeds capacity. | READ-ONLY. |
Retention | Average time a guest spends occupying a seat during a period. The number you enter in the Retention field will probably be different for each meal period that you define for a revenue center. | READ-ONLY. |
Utilization | Percentage of available seats that are usually occupied during the period you are creating. RMS uses the number in the Utilization field to develop labor requirements. | READ-ONLY. |
Open | Indicates whether the revenue center is open for business. | READ-ONLY. |
Min Volume | Indicates the minimum volume required each day for the revenue center to be opened. | READ-ONLY. |
| Edit | Click to open the Edit Revenue Center Period dialog box so that you can edit details for the revenue center period. | |
